Gazprom buying out its own shares from Vnesheconombank

Gazprom Group today signed a number of agreements with Vnesheconombank to purchase a block of ordinary shares and ADRs representing Gazprom's ordinary shares that amounts to 3.59 per cent of the Company's equity capital.

“Gazprom's shares are strongly undervalued by the market and have considerable growth potential. This is why we seized the opportunity to buy out a large block of our shares,” said Alexey Miller, Chairman of the Gazprom Management Committee.